Asking prices for used cars in the Republic of Ireland rose 4.6% during the first three months of this year.
The rise was driven by a resurgence in demand from buyers and sluggish supply, according DoneDeal, the listings site.
Their latest data suggests that the cost of buying a used car jumped by almost 80 percent since the pre-pandemic era!
Meanwhile in the UK there are reports that predict car prices are set for a tumble over the rest of this year - as production of new cars since the pandemic has ramped up, with the parts supply problem having eased.
The influx of new cars on the market will increase supply of secondhand versions - so the thinking goes. In the UK the launch of the new “23” plate helped sales of new cars revive in March, with registrations a fifth higher than a year ago. However the 287,000 registrations were still about half the number sold with the “17” plate in March 2017.
